Is the Bitvo Cash Card free to use?

No. The Bitvo Cash Card requires $10 +applicable taxes to request the card unless you have funded a minimum of $25,000 within 12 months. The card also has a $1.00 ATM withdrawal fee, a 3.00% foreign currency exchange fee and a $1.00 fee on all other transactions.

How do I withdraw from Bitvo?

To withdraw fiat or cryptocurrency, you will need to first log in to your Bitvo account. From there, you can select the tab "Withdraw from my Account" and follow the directions. The account that fiat is withdrawn to must be owned by you and you will be unable to withdraw any funds without first completing the ID-verification process.

While no exchange can guarantee absolute security, Bitvo does engage in best practices. Bitvo only holds 5% of customers' funds in hot wallet storage, which it contracts out to the third-party wallet provider BitGo. The remaining 95-100% of customers' funds are stored in an offsite third-party financial institution that is only accessible via multiple signatures. These signatures are trusted individuals and geographically diverse.

Does Bitvo charge withdrawal fees?

Yes. Bitvo charges a 1% withdrawal fee with a minimum of $15 per withdrawal. Withdrawals include transferring money to your bank account, using your Bitvo Cash Card or withdrawing cryptocurrencies.

Iain Taylor, Writer at Finder

Iain Taylor

Writer

Iain Taylor was a cryptocurrency writer for Finder. Iain has been involved in cryptocurrency since the end of 2020. He completed a study on Bitcoin, blockchain technology and cryptocurrencies at Dalhousie in 2021.

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